Chicago Company, a calendar-year corporation, had the following actual income before income tax expense and...
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Accounting
Chicago Company, a calendar-year corporation, had the following actual income before income tax expense and estimated effective annual income tax rates for the first three quarters in 20X2:
1st Quater - $70,000 @28%
2nd Quater - $90,000 @26%
3rd Quater - $120,000 @30%
Chicagos income tax expense in its interim income statement for the third quarter should be
A) $36,000
B) $41,000
C) $42,400
D) $84,000
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